Mumbai: Infosys co-founder Nilekani donates Rs 315 crore to IIT Bombay

To mark 50 years of his association with his Alma Mater Indian Institute of Technology Bombay IIT Bombay Nandan Nilekani a billionaire and cofounder of tech giant Infosys donated Rs 315 dollar 385 Million on June 20The donation will fund worldclass infrastructure research in emerging areas of engineering and technology and a deep tech startup ecosystem at the premier instituteThis substantial contribution builds upon his previous grants of Rs 85 crores to the Institute bringing the cumulative value of his support to his alma mater so far to Rs400 crores This is the highest individual donation by an alumnus to IIT Bombay so farOn July 19 2021 A USbased alumni group of the Indian Institute of Technology IIT Bombay called the IIT Bombay Heritage Foundation IITBHF a nonprofit charity group donated USD 50 million to its alma mater to celebrate its 25 years The amount of USD 50 million was collected from over 3300 donorsFor this a Memorandum of Understanding MoU was formally signed today in Bengaluru by Nandan Nilekani and Prof Subhasis Chaudhuri Director IIT BombayOfficials of IIT B have said that this significant contribution serves as the anchor for IIT Bombays ambitious vision to become a global leader among engineering and technology institutes and contribute significantly towards nationbuildingNilekani joined IIT Bombay in 1973 for a Bachelors degree in Electrical Engineering The donation marks the golden jubilee of Nilekanirsquos association with the institute and reflects the deep bond he continues to share with his alma mater It also stands as one of the largest donations made by an alumnus in IndiaOver the last 50 years Nilekani has stayed connected with the Institute in multiple roles He served on the Board of the IIT Bombay Heritage Foundation from 1999 to 2009 and was on the Board of Governors from 2005 to 2011 His initial contribution totalling up to INR 85 crores over the years was instrumental in constructing new hostels cofinancing the School of Information Technology and establishing Indias first university incubator thereby significantly boosting the Indian startup ecosystem He was awarded the prestigious Distinguished Alumnus Award in 1999 followed by an Honorary Doctorate in 2019 as part of the 57th convocation of IIT BombaySpeaking about the donation Nilekani who is also the founding Chairman of the Unique Identification Authority of India UIDAI said ldquoIIT Bombay has been a cornerstone in my life shaping my formative years and laying the foundation for my journey As I celebrate 50 years of my association with this esteemed Institution I am grateful to give forward and contribute to its future This donation is more than just a financial contribution it is a tribute to the place that has given me so much and a commitment to the students who will shape our world tomorrowrdquoPegging it as the beginning of a new era of IIT Bombay Director Prof Subhasis Chaudhuri said ldquoWe are extremely delighted to see our illustrious alumnus Nandan Nilekani continuing his foundational amp pioneering contributions to the Institute This historic donation will significantly accelerate the growth of IIT Bombay and will firmly set it on a path of global leadership IIT Bombay is committed to building research and academic excellence that can make India a leader in scientific discovery and its translation toward solving the pressing challenges facing humankind Nandanrsquos contribution will catalyse philanthropic contributions towards advancing research and development at universities in IndiardquoIIT Bombayrsquos strategic plan for the coming decade includes setting up worldclass centers of excellence in strategic areas such as Artificial Intelligence green energy quantum computing and others nurturing a deep tech startup ecosystem and providing bestinclass research living and academic facilities to students and faculty The plan envisages fundraising of about USD 500 million over the next five years Nilekanirsquos anchor contribution of USD 385 million will help the Institute kickstart its plans and inspire others to join this transformative initiative